Identify a false statement: * a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the O sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Identify a false statement:
a. Capital Gains Tax is a tax imposed on the
gains realized by the seller from the sale,
exchange, or other disposition of certain
capital assets located in the Philippines,
including pacto de retro sales and other
forms of conditional sale.
b. Under NIRC, the capital gains tax on the
sale of domestic stocks sold directly to
buyer is a final tax.
c. Under NIRC, The capital gains tax on the
sale of real property located in the
Philippines and classified as capital asset is
a final tax.
d. None of the above
e. All of the above
Transcribed Image Text:Identify a false statement: a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above
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